UK government excludes Jaguar Land Rover support
The British government confirmed and ruled out providing financial support to Jaguar Land Rover in order to protect thousands of jobs, despite the company's plans to make significant layoffs of up to 4,000 positions aimed at improving efficiency and enhancing resilience. This move comes after the company's revenues declined by 9.6% in the last quarter and was affected by the American tariffs imposed by Trump, which led to a 9.2% decrease in its sales in the US market. The company is the largest car manufacturer in Britain, employing around 30,000 people in the UK, and faces challenges related to changing global market conditions as it seeks to achieve cost savings of £1.7 billion over the next two years.
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